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Video Poker Glossary
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86ed
used to describe the act of barring a person from a casino, especially for gambling related issues. Video poker players are rarely barred. Instead, casinos will more commonly just "cut them off" taking away any accrued points or unused comps, and disallowing future comps regardless of play.
Back off
when a casino asks or suggests (forcibly or otherwise) that a gambler stop playing.
Carousel
A collection of slot or video poker machines, in a circular-like arrangement. Often these machines have similar games, and in the case of progressive machines, may be tied together.
Casino Monitor
  1. Person responsible for maintaining the vpfree2 pages for a specific casino
  2. Person who regularly monitors a casino taking inventory of the video poker there and reports all updates to vpfree2
Casino Monitor are unpaid volunteers who work diligently to keep vpFREE2 up-to-date. Without them the site would not exist.
Central Limit Theorem
A mathematical theorem that states, for any set of independent random variates with finite variance, that the cumulative distribution function of a normalized (scaled) sum of such variates approaches the cumulative distribution function for a normal distribution, as the number of variates increases. Under certain circumstance, the theorem states that the width of the central region of the associated probability distribution function narrows, and approaches zero, as the number of random trials (variants) increases and that the shape (of the central region) of the PDF approaches a normal PDF as the number of trials increases. If all variates are from a single uncorrelated random process, the theorem states that variance decreases as 1/sqrt(n) where n is the number of trials. Since each video poker hand is independent of all other hands, and since video poker's variance is finite, The Central Limit Theorem holds for all video poker, and the variance scales as 1/sqrt(n), where n is the number of hands. However, at the same time, the total bet or coin-in has been increasing proportional to n. Thus the variance in real units (dollars) increases without limit as the player continues to gamble.
See also: PDF, Coin-in, Variance, Central Limit.
CI
Short for Coin-in.
Class I Gaming
traditional tribal games and "social games" for prizes of nominal value, all of which are subject solely to tribal regulations (IRS.gov)
Class III Gaming
card games played against the house, slot machines, dog and horse racing, jai alai, and all other types of casino gaming. The National Indian Gaming Commission's (NIGC's) authority includes review and approval of Class III Gaming management contracts. Class III gaming is regulated by compacts negotiated between tribes and states. (IRS.gov)
Deuces
  1. One or more deuces.
  2. Four deuces, especially when playing a deuces wild video poker game
  3. Deuces Wild Video Poker game

See also: Deuces Wild.
Expectation
  1. Often used in place of the mean or expected value, especially as ""The Expectation"
  2. Involving the mathematical operation equivalent to averaging over some quantity of a distribution, random process or data set. If the quantity is the value itself, the expectation is the mean. If the quantity is the value minus the mean squared, the expectation is the variance.
Gaming Control Board
A state or county agency that enforces policies set by the gaming commission, investigates allegations of cheating and provides background information on persons or corporations requesting licensing as operators of gambling establishments.
Indian Gaming Regulatory Act
(According to IRS.gov) In 1988, Congress enacted the Indian Gaming Regulatory Act (IGRA) to:
  1. provide a statutory basis for the operation of gaming by Indian tribes to promote tribal economic development, self-sufficiency, and strong tribal governments;
  2. provide a statutory basis for the regulation of Indian gaming to ensure tribes are the primary beneficiaries;
  3. establish: a) independent federal regulatory authority for Indian gaming, b) federal standards for Indian gaming, and c) the National Indian Gaming Commission (NIGC), to meet congressional concerns regarding Indian gaming and protect such gaming as a means of generating tribal revenue;
  4. shield gaming from organized crime and other corrupting influences; and 5. ensure that gaming is conducted fairly and honestly by both the operators and the players.
Since IGRA’s passage in 1988, tribes and states have successfully negotiated hundreds of Tribal-State gaming compacts. Gaming provides significant revenues for many Indian tribes.
Kelly Betting
a (money management) strategy that sets the wager amount for optimal bankroll growth. Under Kelly Betting, the bet size is chosen based on the game's return and current bankroll size. For video poker, bet sizes are limited to certain common denominations. For that, and other reasons, strict Kelly Betting is not practical with video poker. On the other hand, Kelly Betting can be used to estimate the bankroll requirements for a given positive expectation game or playing situation with a fixed bet size. Kelly Betting does not elucidate the Risk of Ruin, however.
Max-EV strategy
Gambling strategy that seeks to maximize the games return. Also know as Max-ER strategy, this is by far the most common gambling strategy. Other strategies might involve reducing risk (minimizing the variance), for example.
Play
  1. (n) Relating to the number hands or lines in a video poker game, as in &quote;"triple-play"
  2. (n) describing the entire gambling situation or opportunity, as in "It was a good Play, and long with the CB, it was positive".
  3. (v) To participate in a game or sport, as in "To Play blackjack is fun, but I prefer video poker"
    Probability Density Function
    A function describing the probability of event occurring for all possible events. For video poker, the set of events are precisely the possible winning hands along with "nada" the event for a non-winning hand. The probability of each winning hand (and nada) depend on the strategy, and can be obtained by numerical simulation or direct computation (hand enumeration). From the Probability Density Function, one can compute the game return and variance (that is, from the first and second moments).
    See also: Cumulative Distribution Function.
    Risk of Ruin
    The probability that, given a certain bankroll, a gambler will be ruined. For video poker, the Risk of Ruin is generally computed for an infinite number of hands, since the computation easier, though it can also be computed for any number of hands. However, if the number of hands is not specified, it is assumed to be infinite. The (infinite run) Risk of Ruin is always greater then zero for video poker, including positive games, since the variance is always non-zero. For all negative expectation situations, the Risk of Ruin is always 100%. That is, regardless of the bankroll, a gambler who plays a bad game will eventually go broke. The Risk of Ruin decreases as the size of the bankroll in betting units increases. Hence, decreasing game denomination (unit or wager) at a fixed bankroll decreases Risk of Ruin.
    See also: Survivability.
    TIN
    Taxpayer Identification Number (commonly social security number)
    Variance
    A measure of the variability of a data set or random process. The variance describes how far values lie from the mean (the first moment of the distribution), and is used, along with the mean, and higher moments, to characterize a probability distribution. The Variance is defined as the expectation of (X-µ)^2 where X is value and µ is the expected value or mean. While the combination of the variance and the mean fully describe a normal distribution (gaussian) they are not sufficient to describe the strongly non-normal distribution for video poker. Nonetheless, variance is an important factor to consider and understand in many aspects of video poker. For video poker, typical values of the Variance range roughly from 15 (PKM) to 100 (DBDJ) and is in units of the bet squared.
    See also: Standard Deviation, Expectation, Expected Value, PKM, DBDJ.
    W2-G
    An IRS Tax form a casino issues to players who "win" under certain condition. For video poker, a W2-G must be issued for "wins" of $1200 or more. The $1200 threshold is fixed and independent of amount wagered. Ironically, a $5 50-play Video Poker machine (played at max-bet of $1250), a $1200 payout would represent a loss. To comply with the IRS law, Video Poker and slot machines "lock up" upon a $1200 or more "win" and the player must wait for a slot attendant to both unlock the machine (and return it to normal play conditions) and bring the tax form. Non-US residents (non-resident aliens) and players without proper identification (and do not produce a TIN) will have tax withholding taken from their W2-G payouts, while others can opt to receive the entire win. At many casinos, players can request a "reset" which may allow them to return to playing quicker had they had to wait to receive the tax form and payout in the normal means. Often resets are only available in high limit rooms. Players may also request a consolidated W2-G, in which case they will receive a single W2-G for all their jackpots for a specified period of time (usually the "slot day") rather then one W2-G for each win. In general, IRS Form 1099 are not given for Video Poker wins (unless the win involves a free drawing or lottery scenario). Neither a W2-G or 1099 are given for wins paid in "Free Play".
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